Thank you for your interest in making an estate gift to benefit CASA. Here is a list of the various ways you can set up your estate gift, with a brief indication of the benefits.
This is the simplest way to leave a legacy for our CASA children. Add language such as the following to your will or living trust document. If you have a MOCI (Memorandum of Charitable Trust Intent) at the Community Foundation you can do this there as well:
“I give (dollar amount or percentage of estate) to Court Appointed Special Advocates of Santa Cruz County, 813 Freedom Boulevard, Watsonville, California 95076, Federal tax ID No.77-0305354, to be used for the greatest need as determined by CASA.”
This is often the most tax-efficient way for you to leave a CASA legacy. Simply change the beneficiary of one of your retirement accounts to CASA of Santa Cruz County. You may designate all of the assets remaining in the retirement account or a percentage. This approach also avoids additional legal expense.
Charitable Gift Annuity
This approach provides you with potentially significant tax savings and a guaranteed income for life. You make a gift of as little as $10,000; you receive an immediate income tax deduction, a guaranteed payment you can count on for life for you (or a loved one), and leave a legacy that will support our CASA children in perpetuity. Payments are fixed and based on your age. The older you are the greater the annuity payment. You can do this through the Community Foundation and it’s proceeds would go into the Endowment Fund that we have there.
Charitable Remainder Trust
This approach is similar to the Charitable Gift Annuity, except you may opt to receive a fixed percentage of the trust’s fair market value, rather than a fixed payout. When the trust is terminated, the assets are transferred to CASA to benefit our children.
This is another easy way to leave a CASA legacy. Simply name us as a beneficiary of your policy. Your estate will be entitled to an offsetting charitable deduction. You can also name us as owner and beneficiary of an existing or new life insurance policy. You will receive an immediate tax deduction that usually approximates the cash surrender value of the policy. All premium payments made thereafter are deductible as a charitable contribution.
As always, you should consult with your own advisors before making a final decision about which approach makes the most sense for you.
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